EU – Baltic States, Foodstuff, Good for Business, Latvia, Markets and Companies, Mergers and take-overs
International Internet Magazine. Baltic States news & analytics
Friday, 19.04.2024, 13:34
Food Union purchases Romanian ice cream producer Alpin57Lux
Print version |
|---|
The financial conditions of the deal have not been revealed.
With this deal, Food Union now includes Eastern Europe on its manufacturing and commerce map in addition to the Baltic Region, the Nordic countries, the Commonwealth of Independent States, and the Far East.
The Food Union Group is now made up of seven dairy companies – joint-stock Rigas Piena Kombinats (Latvia), joint-stock Rigas Piensaimnieks (Latvia), joint-stock Valmieras Piens (Latvia), as well as ice cream producers Premia (Estonia), Premier Is (Denmark), Isbjorn Is (Norway) and Alpin57Lux (Romania).
Alpin57Lux concentrates on producing ice cream, and its product portfolio currently includes over 100 different types of ice cream products. The company also produces pastries and bread products. The company has its own logistics network with over 250 vehicles at its disposal and sells its products on the national level though its distribution channels. The company achieved EUR 18 million in turnover last year.
As Food Union owner Andrey Beskhmelnitsky points out, the equipment and technologies at the newly acquired company are in accordance with the highest level category. The company manufactures its products at a modern production and warehouse facility, which features the latest in manufacturing technologies.
''It is a well-managed family business, which is led by a strong management team which are passionate about ice cream production. Our experience in the dairy and ice cream business, as well as a regional positioning, will help us ensure the continued development of Alpin57Lux,'' he said.
As reported, Food Union, which originally comprised two of the largest dairy companies in Latvia –- Rigas Piena Kombinats (RPK) and Valmieras Piens – is controlled by a group of investors headed by Russian investor Andrey Beskhmelnitsky.
According to preliminary results, Food Union posted EUR 175 million in sales in the Baltics in 2015. The company employs more than 800 people.
«The Baltic Course» Is Sold and Stays in Business!
